Goldman Sachs tried to hire diverse juniors & far exceeded its target
There are a number of benefits to receiving a million job applications in a year. One of them is that it’s very easy to hit diversity targets.
So suggests Goldman Sachs’ new people strategy report for 2022, anyway. The report suggests that Goldman has already smashed many of the diversity goals it set for 2025.
At a campus level, for example, Goldman well ahead of its 2025 ethnic diversity aims. The bank’s targets in the Americas, 11% Black representation and 14% Hispanic, were breezed past at the campus level, with 13% and 17% recruited in 2022 respectively. There was a slight lag at the experienced analyst and associate level,
The firm was less successful when it came to women, but still met its target. It cut back very slightly on its hiring of women as a percentage of the total last year, down from 52% to a cool 50%.
Goldman has a 9% target for hiring people with black ethnicity in the United Kingdom, compared to an 11% target in the Americas. The firm's presence in the Americas is overwhelmingly in the United States, which is approximately 13.6% Black, as of 2022. The percentage of Black people in the United Kingdom is… 4%, according to the latest census.
The results of Goldman’s diversity push, assuming targets are met, would simultaneously lead to a slight underrepresentation of Black people in the United States, and a significant overrepresentation of black people in the United Kingdom.
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